What is Geoswift's unique selling proposition? What is its role in the movement of money between China and the rest of the world?
Geoswift partners with major banks, payment processors and financial institutions to bridge gaps in their payment value chain when dealing with cross-border transactions. With our proprietary set of technologies, understanding of Chinese monetary policy and well-established infrastructures as a first-mover, we are able to customize and assemble products according to our clients' business needs.
How does Geoswift's services differ from the services of a bank?
Bank wiring systems were designed to execute large volume, one-to-one transactions. Geoswift's services allows e-Commerce merchants to make more frequent, low value transactions namely, one-to-many, many-to-one and many-to-many batch transaction in a highly cost-efficient and secured manner.
How does Geoswift process bulk transactions of low value?
Our GeoGateway and GeoSwitch technologies allow us to process batch funds and information from our merchants and partners by means of information matching, processing, reconciliation, clearing and reporting to ensure accurate settlement into individual bank accounts.
What is your relationship with UnionPay and Western Union?
Both UnionPay and Western Union are our close partners. We act as a bridge to bring them together, while also building co-branded portals and infrastructure hand-in-hand. We each have different roles to play and we work together to complete the cross-border payment value chain. We welcome partnerships with other payment companies or financial institutions.